Swiss prosecutors are trying to figure out why someone apparently attempted to flush tens of thousands of euros down the toilet at a Geneva branch of UBS Group AG.
The first 500-euro ($597) bills were discovered several months ago in a bathroom close to a bank vault containing hundreds of safe deposit boxes, according to a report in Tribune de Geneve confirmed by the city prosecutor’s office. A few days later, more banknotes turned up in toilets at three nearby restaurants, requiring thousands of francs in plumbing repairs to unclog the pipes.
Russian Railways suggests reviewing the use of Swiss francs as a settlement currency for the transit traffic, president of the company Oleg Belozerov said, as Tass agency reported.
"We calculate transit in Swiss francs. The Swiss franc has been historically used for international settlements. I asked colleagues to consider and give an assessment whether the franc is the proper currency now to make settlements," he said.
The dollar broke out to the upside. The climb of the greenback, that had started immediately after the Trump’s victory early last month, has now reached important historic levels.
The SNB’s foreign currency reserves continue to get stronger: they amounted to 630.34 billion francs in October, about 2.25 billion more than in September.
The total reserves without gold stood at 639.09 billion francs, up from 633.73 billion in August, as the figures provided by the institute to the International Monetary Fund.
The Swiss National Bank (SNB) recorded in the first three quarters of the year a net profit of 28.7 billion francs. The gold holdings generated a gain of 7.5 billion while foreign currency investments of 20.3 billion.
The profit on Swiss franc positions amounted to 1.3 billion. In the same period of 2015 the institute had accumulated a loss of 33.9 billion.
Abflüsse bei den Vermögen und Druck in Asien: Der Credit-Suisse-Chef stellt die Investoren auf ein schwächeres drittes Quartal ein. Die Aktie reagiert prompt.
For qualified investors / professional clients only
In order to proceed, you must confirm that you are a qualified investor based in Switzerland
The information contained in this section have been compiled or arrived at based upon information obtained from sources believed to be reliable and in good faith, but is not guaranteed as being accurate, nor is it a complete statement or summary of the securities, markets or developments referred to in the document.
Before investing in a product please read the latest prospectus carefully and thoroughly and note that funds mentioned herein may not be eligible for sale in all jurisdictions or to certain categories of investors The information mentioned herein is not intended to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. Past performance is not a reliable indicator of future results. The performance shown does not take account of any commissions and costs charged when subscribing to and redeeming units. Commissions and costs have a negative impact on performance. If the currency of a financial product or financial service is different from your reference currency, the return can increase or decrease as a result of currency fluctuations. This information pays no regard to the specific or future investment objectives, financial or tax situation or particular needs of any specific recipient. The details and opinions contained in this document are provided without any guarantee or warranty and are for the recipient's personal use and information purposes only
